Table of Contents
·
1.
Who is liable to Deduct Tax from Interest other than Interest on Securities:
·
2.
When TDS is to be Deducted from Interest other than Interest on Securities:
o
Tax not to be deducted at source
in respect of the provision for interest accrued but not due:
·
3.
TDS U/s 194A of the Act on interest on Fixed Deposit made on directions of
Courts
·
4.
[Section 194A(4)]- Adjustment in the amount of TDS:
·
5.
[Section 194A (3)]- Where No Tax is to be Deducted at Source.
o
(A) When
interest paid or credited does not exceed Rs. 40,000 / Rs. 50,000 / Rs. 5,000
o
(B) Where such
interest is paid to certain specified persons
o
(D) No TDS by
the Offshore Banking Unit [Section 197A(1D)]
o
(E)
[Section 197A(1E)]- Any payment made to New Pension Scheme Trust:
o
(G) Certain
entities required to file return under section 139(4A) or 139(4C) [Rule 28AB]:
o
(H) Certain
entities whose income is unconditionally exempt under section 10:
·
7.
Rate of TDS for Financial Year 2019-20 and 2020-21
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